Published on 28 Feb 2024 on Simply Wall St. via Yahoo Finance

La-Z-Boy (NYSE:LZB) Could Be A Buy For Its Upcoming Dividend

Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be intrigued to know that La-Z-Boy Incorporated (NYSE:LZB) is about to go ex-dividend in just 4 days. The ex-dividend date occurs one day before the record date which is the day on which shareholders need to be on the company's books in order to receive a dividend. The ex-dividend date is an important date to be aware of as any purchase of the stock made on or after this date might mean a late settlement that doesn't show on the record date. This means that investors who purchase La-Z-Boy's shares on or after the 4th of March will not receive the dividend, which will be paid on the 15th of March.

The company's next dividend payment will be US$0.20 per share. Last year, in total, the company distributed US$0.80 to shareholders. Based on the last year's worth of payments, La-Z-Boy has a trailing yield of 2.1% on the current stock price of US$37.84. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. As a result, readers should always check whether La-Z-Boy has been able to grow its dividends, or if the dividend might be cut.

See our latest analysis for La-Z-Boy